Any reputable workplace study shows, inconclusively, that happy employees are the most productive employees. Collectively, that makes a huge difference in the companies bottom line. If the company spends more money, just so they can squeeze every last iota of work out of an employee and pay them as absolutely little as possible without them quitting, that actually cost more money in the long run than just paying their employees wage.

But, philosophically, the executives are psychopathic, fascist, assholes, so they would rather lose some money as long as they continue being cruel, rather than pay anyone a living wage and make more money.